Fremont Gold Completes Drilling at Gold Bar & Gold Canyon Projects, Nevada
Fremont Gold Completes Drilling at Gold Bar & Gold
Canyon Projects, Nevada
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2018) - Fremont Gold Ltd. (
TSXV: FRE) (
FSE:
FR2) (
OTC Pink:
USTDF
) ("
Fremont
" or the "
Company
") is pleased to announce that it has completed the previously announced drill program at
Gold Bar and Gold Canyon in northern Nevada (see Fremont news release dated May 9, 2018).
Seven reverse-circulation drill
holes were completed; two at Gold Bar and five at Gold Canyon, totalling 1,559 meters.
The program was expanded from the
originally announced 1000 meters in five holes, to seven holes, as the rate of drilling advanced more efficiently than anticipated.
The initial batch of samples has been dispatched to American Assay Laboratory in Reno with analytical results expected in the
coming weeks.
Mr. Derek White
Accepts Role as
Fremont
C
ompany
A
dvisor
Mr. Derek White has accepted a position as an Advisor to the Company.
Mr. White is currently President & CEO of Ascot
Resources which is a TSX.V-listed company that is developing the Premier-Dilworth project in northwestern British Columbia.
Derek has 35 years of experience in the mining and metals industry. He holds an undergraduate degree in Geological
Engineering from the University of British Columbia and is also a Chartered Accountant.
Prior to joining Ascot Resources Ltd.
Derek was President and CEO of KGHM International Ltd. where he was responsible for the construction of the $1.2 billion
Sierra Gorda copper mine in Chile.
He has also held the positions of Executive Vice President, Business Development and
Chief Financial Officer of Quadra FNX Mining Ltd. from 2004 to 2012 and held executive positions with International Vision
Direct Ltd., BHP-Billiton Plc, Billiton International Metals BV and Impala Platinum Ltd., in Vancouver, Toronto, London, The
Hague, and Johannesburg respectively.
Fremont President and CEO Dennis Moore stated, "Derek White is one of the most respected guys in the mining industry and
has been involved in every aspect of the business, from exploration, to building and operating mines, with both large and small
companies.
Fremont is fortunate to have Derek as an advisor, and we appreciate his time and capacity to help the company
develop."
Background
of
Gold Bar District
The Gold Bar and Gold Canyon properties are both former mines in the Gold Bar District in Eureka County, Nevada, an active
mining area in the Roberts Mountains within the Battle Mountain-Eureka Trend. The district contains several Carlin-style
sediment-hosted gold deposits including McEwen Mining Inc.'s ("McEwen") Gold Bar project, which is scheduled to produce
62,800 oz Au/annum at $770/oz starting in early 2019
1
.
Fremont's Gold Bar and Gold Canyon projects are adjacent (west) and immediately north of McEwen's Gold Bar mine
development project, which is currently under construction and expected to be completed by early 2019. While McEwen's
development project and Fremont's property share the same name, the historic Gold Bar mine is held by Fremont and produced
286,354 ounces of gold from 1986 to 1994
2
.
McEwen's property comprises the former satellite pits to the to the original Gold
Bar mine and they adopted the historical mine name.
However, the original Gold Bar pit occurs in the south-central portion of
Fremont's 10,096-acre (4086 ha) land package, five kms southwest of McEwen's project as shown in the inset of the image
below.
Fremont's property hosts an historical resource of 147,000 ounces @ 2.57 g/t Au, called the Millsite deposit
3
(see
Fremont press release dated September 12, 2017) thought to be a faulted off-set of the former Gold Bar ore body located on the
northwest side of the old pit.
Fremont Gold's Gold Bar Drill Hole locations, May 2018
To view an enhanced version of this map, please visit:
http://orders.newsfilecorp.com/files/3169/34970_a1527804122546_96.jpg
Fremont Golds'
Gold Canyon
D
rill
H
ole locations
, May 2018
To view an enhanced version of this map, please visit:
http://orders.newsfilecorp.com/files/3169/34970_a1527804122781_69.jpg
On behalf of the Board of Directors,
"Dennis Moore"
President and CEO
Telephone:
+351-9250-62196 or 778-772-9892
Email:
or
www.fremontgold.net
About Fremont Gold Ltd.
Fremont holds exclusive rights to the Gold Bar-Gold Canyon and Hurricane Projects, located respectively in Eureka County and
Lander County, Nevada.
Fremont also holds rights to the Goldrun Project in the Adelaide mining district, Humboldt County,
Nevada and the North Carlin Project in Elko County. The Company's strategy is to conduct exploration on its existing projects
using the collective exploration expertise of the management team. Further information regarding the Gold Bar, Gold Canyon,
Hurricane, Goldrun and North Carlin Projects are available at
www.sedar.com
.
1
3McEwen Mining website:
www.mcewenmining.com
2
Internal report, Atlas Precious Metals, Mines, Dec 13, 1995, prepared by Pincock, Allen & Holt,
3
Atlas-Granges Joint Venture, 1996, Year End Report, private company report, 17p
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates,
forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the
Company's
proposed use of proceeds. The word
"intends"
or other similar words and phrases are intended to identify forward-
looking information
.
There is no guarantee that the Company's planned drill program will proceed as stated.
Forward-looking
information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual
results, level of activity, performance, or achievements to be materially different from those expressed or implied by such
forward-looking information.